Modelling the lifetime of banknotes with a semi-Markov chain model.

Emily Loizidou Simon Jones Emma Grey Mee Chi So

Published in: J. Oper. Res. Soc. (2022)

Keyphrases

transition matrix
markov chain
transition probabilities
steady state
markov model
monte carlo simulation
stationary distribution
markov process
random walk
stochastic process
state space
monte carlo
gibbs sampling
probabilistic model
search algorithm
higher order